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Home Theatre Market Expected To Trigger A Revenue To $13.4 Billion By 2025 | Grand View Research, Inc.

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Home Theatre Market Expected To Trigger A Revenue To $13.4 Billion By 2025 | Grand View Research, Inc.

February 05
14:45 2020
Home Theatre Market Expected To Trigger A Revenue To $13.4 Billion By 2025 | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting
In terms of product, the home theatre in a box system (HTIB) segment dominated the market with over 65.0% share of the total revenue. HTIB is an all-in-one package that includes Blu-ray/DVD/CD player, sound speakers, amplifier, remote control, wiring, and radio tuner. This product ranges from 2.1 channel to 9.1 channel with different price points. As a result, consumers prefer this product as it is capable to create a cinematic environment at home.

The global home theatre market size is expected to reach USD 13.4 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.3% over the forecast period. Growing demand for audio systems equipped with wireless technologies including Bluetooth and Wi-Fi, which offer consumer convenience, is expected to be a key driving factor. Additionally, capability of the product to connect with portable devices, such as smartphones, tablets, and laptops, has played a crucial role in promoting the market scope. In addition, surge in the number of smart homes at the global level due to rising purchasing power of the consumers has been accelerating the demand for the product.

Offline channel dominated the home theatre market with exceeding 80.0% share of the total revenue in 2018. However, increasing penetration of smartphones and surge in the number of internet users at the global level are expected to boost the online sales of the product in the near future. Over the past few years, e-commerce has gained remarkable traction owing to improved delivery process and availability of an extensive range of online payment platforms.

As of 2018, North America led the market, accounting for over 40.0% share of the global revenue. High purchasing power, coupled with rising spending on the entertainment of the consumers, has boosted the market growth in this region. U.S. has a high penetration of home cinema system owners. The consumers have been demanding a high-quality audio system that facilitates internet streaming, which allows them to access TV shows and web series.

Key competitors of this industry include Bose Corporation, LG Electronics Inc.; Panasonic Corporation; Sony Corporation; Samsung Group; Koninklijke Philips N.V.; Bowers & Wilkins; Atlantic Technology, Inc.; Definitive Technology; GoldenEar Technology; Yamaha Corporation; and Pioneer Corporation. For instance, in January 2019, LG Electronics Inc. has introduced three new sound bars: SL10YG, SL9YG, and SL8YG. The company has collaborated with Meridian Audio to deliver superior sound quality. All three models are featured with Dolby Atmos and DTS:X that provide multidirectional sound. Furthermore, they have built-in voice recognition (Google Assistant) technology and AI smart connectivity.

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U.S. home theatre market size, by distribution channel, 2015 - 2025 (USD Billion)

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Further key findings from the report suggest:

  • By product, home theatre in a box system led the market in 2018 as it provides a superior cinematic experience to the consumers. Sound bar is expected to witness the fastest growth in the coming years due to less space consumption and easy installation features

  • The offline segment led the home theatre market in 2018, accounting for more than 80.0% share of the global revenue.The online distribution channel is expected to register the fastest CAGR of 8.8% from 2019 to 2025

  • Asia Pacific is projected to expand at the fastest CAGR of 9.2% from 2019 to 2025.

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Global home theatre market share, by product, 2018 (%)

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Grand View Research has segmented the global home theatre market on the basis of product, distribution channel, and region:

Home Theatre Product Outlook (Revenue, USD Million, 2015 – 2025)

  • Home Theatre In A Box System (HTIB)

  • Sound Bar

  • Component System

Home Theatre Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)

  • Offline

  • Online

Home Theatre Regional Outlook (Revenue, USD Million, 2015 – 2025)

  • North America

    • U.S.

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • India

  • Central & South America

    • Brazil

  • Middle East & Africa

    • UAE

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 26 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 426 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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